The Ghana Mineworkers’ Union (GMWU) has strongly criticised Finance Minister Dr Cassiel Ato Forson and the Bank of Ghana (BoG), accusing them of neglecting thousands of miners whose life savings remained locked up in defunct financial institutions.

According to the union, over 19,000 miners had been unable to access their funds for more than four years after the collapse of several banks and investment firms during the 2018–2019 financial sector clean-up.

Speaking at a media engagement in Accra, the General Secretary of the union, Abdul-Moomin Gbana, described the situation as unacceptable and accused the ministry of finance and the central bank of failing to protect the financial welfare of miners.

He noted that the affected funds were contributions drawn from both mandatory and voluntary schemes, stressing that the BoG’s handling of the matter raises serious concerns.

Gbana also took issue with Finance Minister Dr Ato Forson’s recent assertion that government lacked the resources to compensate the affected miners.

He argued that the claim contradicted the government’s own budget allocations and insisted that the union firmly rejects the minister’s position.

He cautioned that the union would not tolerate further delays or excuses, hinting at possible action if the matter remained unresolved.

Beyond the issue of locked-up funds, Gbana also highlighted challenges at the Bogoso-Prestea Mine, operated by Heath Goldfields Ltd.

He urged government and regulatory bodies to fast-track support for the mine as it prepared to commence full commercial operations.

The union said both the financial welfare of miners and the stability of mining operations must be prioritised to safeguard livelihoods and ensure growth in the sector.